{"id":1864,"date":"2015-06-12T09:53:42","date_gmt":"2015-06-12T09:53:42","guid":{"rendered":"http:\/\/accountingtree.com\/cpa\/?page_id=1864"},"modified":"2015-06-12T09:55:03","modified_gmt":"2015-06-12T09:55:03","slug":"tax-rates","status":"publish","type":"page","link":"http:\/\/accountingtree.com\/cpa\/tax-rates\/","title":{"rendered":"Tax Rates"},"content":{"rendered":"

 <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
2008 Tax Rates<\/b> – Single Taxpayers – <\/b>Standard Deduction $5,450<\/div>\n<\/td>\n<\/tr>\n
10%<\/td>\n0 to 8,025<\/td>\n<\/tr>\n
15%<\/td>\n8,026 to 32,550<\/td>\n<\/tr>\n
25%<\/td>\n32,551 to 78,850<\/td>\n<\/tr>\n
28%<\/td>\n78,851 \u2013 164,550<\/td>\n<\/tr>\n
33%<\/td>\n165,551 \u2013 357,700<\/td>\n<\/tr>\n
35%<\/td>\nOver 357,700<\/td>\n<\/tr>\n
\n

2008 Tax Rates<\/b> – Married Jointly & Surviving Spouses – <\/b>Standard Deduction $10,900<\/p>\n<\/td>\n<\/tr>\n

10%<\/td>\n0 \u2013 16,050<\/td>\n<\/tr>\n
15%<\/td>\n16,051 \u2013 65,100<\/td>\n<\/tr>\n
25%<\/td>\n65,101 \u2013 131,450<\/td>\n<\/tr>\n
28%<\/td>\n131,451 \u2013 200,300<\/td>\n<\/tr>\n
33%<\/td>\n200,301 \u2013 357,700<\/td>\n<\/tr>\n
35%<\/td>\nOver 357,700<\/td>\n<\/tr>\n
\n

2008 Tax Rates<\/b> – Married Filing Separately – <\/b>Standard Deduction $5,450<\/p>\n<\/td>\n<\/tr>\n

10%<\/td>\n0 \u2013 8,025<\/td>\n<\/tr>\n
15%<\/td>\n8,026 \u2013 32,550<\/td>\n<\/tr>\n
25%<\/td>\n32,551 \u2013 65,725<\/td>\n<\/tr>\n
28%<\/td>\n65,726 \u2013 100,150<\/td>\n<\/tr>\n
33%<\/td>\n100,151 \u2013 178,500<\/td>\n<\/tr>\n
35%<\/td>\nOver 178,550<\/td>\n<\/tr>\n
\n

2008 Tax Rates<\/b> – Head of Household – <\/b>Standard Deduction $8,000<\/p>\n<\/td>\n<\/tr>\n

10%<\/td>\n1 \u2013 11,450<\/td>\n<\/tr>\n
15%<\/td>\n11,451 \u2013 43,650<\/td>\n<\/tr>\n
25%<\/td>\n43,651 \u2013 112,650<\/td>\n<\/tr>\n
28%<\/td>\n112,651 \u2013 182,400<\/td>\n<\/tr>\n
33%<\/td>\n182,401 \u2013 357,700<\/td>\n<\/tr>\n
35%<\/td>\nOver 357,700<\/td>\n<\/tr>\n
\n

2008 Tax Rates<\/b> – Estates & Trusts<\/b><\/p>\n<\/td>\n<\/tr>\n

15%<\/td>\n1 \u2013 2,200<\/td>\n<\/tr>\n
25%<\/td>\n2,201 \u2013 5,150<\/td>\n<\/tr>\n
28%<\/td>\n5,151 \u2013 7,850<\/td>\n<\/tr>\n
33%<\/td>\n7,851 \u2013 10,700<\/td>\n<\/tr>\n
35%<\/td>\nOver 10,700<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

 <\/p>\n\n\n\n\n\n\n\n\n
Social Security <\/b><\/td>\n2008 Tax Rates<\/b><\/td>\n<\/tr>\n
Base Salary<\/td>\n$102,000<\/td>\n<\/tr>\n
Social Security Tax Rate<\/td>\n6.2%<\/td>\n<\/tr>\n
Maximum Social Security Tax<\/td>\n$6,324<\/td>\n<\/tr>\n
Medicare Base Salary<\/td>\nUnlimited<\/td>\n<\/tr>\n
Medicare Tax Rate<\/td>\n1.45%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Miscellaneous <\/b><\/td>\n2008 Tax Rates<\/b><\/td>\n<\/tr>\n
Personal Exemption<\/td>\n$3,500<\/td>\n<\/tr>\n
Business equipment expensing deduction<\/td>\n$250,000<\/td>\n<\/tr>\n
Prior-year safe harbor for estimated taxes of higher-income<\/td>\n110% of your 2007 tax liability<\/td>\n<\/tr>\n
Standard mileage rate for business driving (1\/1 to 6\/30\/08)<\/td>\n50.5 cents<\/td>\n<\/tr>\n
Standard mileage rate for business driving (7\/1 to 12\/31\/08)<\/td>\n58.5 cents<\/td>\n<\/tr>\n
Standard mileage rate for medical\/moving driving (1\/1 to 6\/30\/08)<\/td>\n19 cents<\/td>\n<\/tr>\n
Standard mileage rate for medical\/moving driving (7\/1 to 12\/31\/08)<\/td>\n27 cents<\/td>\n<\/tr>\n
Standard mileage rate for charitable driving<\/td>\n14 cents<\/td>\n<\/tr>\n
Child Tax Credit<\/td>\n$1,000<\/td>\n<\/tr>\n
Unearned income maximum for children under 19 before kiddie tax applies<\/td>\n$1,800<\/td>\n<\/tr>\n
Maximum capital gains tax rate for taxpayers in the 10% or 15% bracket<\/td>\n0%<\/td>\n<\/tr>\n
Maximum capital gains tax rate for taxpayers above the 15% bracket<\/td>\n15%<\/td>\n<\/tr>\n
Capital gains tax rate for unrecaptured Sec. 1250 gains<\/td>\n25%<\/td>\n<\/tr>\n
Capital gains tax rate on collectibles<\/td>\n28%<\/td>\n<\/tr>\n
Maximum contribution for Traditional\/Roth IRA<\/td>\n$5,000 if under age 50
\n$6,000 if 50 or older<\/td>\n<\/tr>\n
Maximum employee contribution to SIMPLE IRA<\/td>\n$10,500 if under age 50
\n$13,000 if 50 or older<\/td>\n<\/tr>\n
Maximum Contribution to SEP IRA<\/td>\n25% of eligible compensation
\nup to $46,000<\/td>\n<\/tr>\n
401(k) maximum employee contribution limit<\/td>\n$15,500 if under age 50
\n$20,500 if 50 or older<\/td>\n<\/tr>\n
Self-employed health insurance deduction<\/td>\n100%<\/td>\n<\/tr>\n
Estate tax exemption<\/td>\n$2,000,000<\/td>\n<\/tr>\n
Annual Exclusion for Gifts<\/td>\n$12,000<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n\n\n\n\n
Education <\/b><\/td>\n2008 Tax Rates<\/b><\/td>\n<\/tr>\n
Hope Credit<\/td>\n$1,800<\/td>\n<\/tr>\n
Lifetime Learning Credit<\/td>\n$2,000<\/td>\n<\/tr>\n
Student Loan Interest Deduction<\/td>\n$2,500<\/td>\n<\/tr>\n
Coverdell Education Savings Contribution<\/td>\n$2,000<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

  2008 Tax Rates – Single Taxpayers – Standard Deduction $5,450 10% 0 to 8,025 15% 8,026 to 32,550 25% 32,551 to 78,850 28% 78,851 \u2013 164,550 33% 165,551 \u2013 357,700 35% Over 357,700 2008 Tax Rates – Married Jointly & Surviving Spouses – Standard Deduction $10,900 10% 0 \u2013 16,050 15% 16,051 \u2013 65,100 25% 65,101 \u2013 131,450 28% 131,451 \u2013 200,300 33% 200,301 \u2013 357,700 35% Over 357,700 2008 Tax Rates – Married Filing Separately – Standard Deduction $5,450 10% 0 \u2013 8,025 15% 8,026 \u2013 32,550 25% […]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-1864","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"http:\/\/accountingtree.com\/cpa\/wp-json\/wp\/v2\/pages\/1864","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/accountingtree.com\/cpa\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"http:\/\/accountingtree.com\/cpa\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"http:\/\/accountingtree.com\/cpa\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/accountingtree.com\/cpa\/wp-json\/wp\/v2\/comments?post=1864"}],"version-history":[{"count":1,"href":"http:\/\/accountingtree.com\/cpa\/wp-json\/wp\/v2\/pages\/1864\/revisions"}],"predecessor-version":[{"id":1866,"href":"http:\/\/accountingtree.com\/cpa\/wp-json\/wp\/v2\/pages\/1864\/revisions\/1866"}],"wp:attachment":[{"href":"http:\/\/accountingtree.com\/cpa\/wp-json\/wp\/v2\/media?parent=1864"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}